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Verizon Center Chinatown

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The core of Chinatown was demolished to make room for the MCI Center which was finished in 1997. In 2006 the MCI Center became the Verizon Center. The sports arena was privately financed and cost $220 million to construct. However the DC government contributed the following: economic value of $70 million, and the insurance of $60 million in arena bonds. In 2007 a $50 million a tax increment financing loan was used to upgrade the Verizon Center scoreboard.the verizon center is owned by monumental sports and entertainment. The verizon center hosts about 210-230 events per year. The verizon center is currently the home of the Washington Wizards men's basketball team, the Washington Mystics women's basketball team, and the Georgetown University

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